Summary: Although buying cryptocurrency directly through PayPal’s platform is possible, the fact remains that the selection of available crypto coins is very limited and doesn’t include XRP.
However, you can buy XRP with your PayPal account via a licensed and regulated multi-asset investing platform such as eToro by transferring funds and executing the purchase of your preferred cryptocurrency.
Can you buy XRP with PayPal?
Currently, PayPal supports only these four tokens that you can buy straight through their platform: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).
If you’re looking for XRP, you won’t find it here. Even if you could buy XRP with PayPal it wouldn’t mean you should – due to the fees involved (up to 1.8% + additional spread fees), purchasing crypto directly via PayPal isn’t the most efficient approach.
The best method of buying XRP is to use a third-party service that will allow you to spend PayPal’s fiat currency at much more beneficial rates.
How to buy XRP with PayPal?
The best way to buy XRP with PayPal is by using eToro, one of the leading licensed brokers available on the market.
With a choice of over 70 different digital currencies and assets, many features such as copy trading (a sought-after method of copying some of the most successful crypto traders), hodling, staking, and a wide array of tools and charts for detailed strategy and approach analysis, eToro is the platform of choice when buying crypto coins.
To begin the process of buying XRP with Paypal, simply connect your PayPal account to eToro and make sure you have enough funds for the purchase, either on PayPal or on a credit/debit card linked with the platform.
How to buy XRP with PayPal: Step-by-Step
Follow these four simple steps to buy XRP with PayPal right away:
- Step 1: Create an account on eToro and complete your verification (personal or company);
- Step 2: Specify the amount of currency you want to deposit on the eToro platform;
- Step 3: Connect your PayPal in order to deposit the fiat currency of choice;
- Step 4: Finally, find XRP on the list of cryptocurrencies provided and commit the transaction.
XRP price today
Created in 2012, XRP price rose to an all-time high of $3.84 in January 2018 before a drop below $0.20 in late 2018. After that, its price remained between $0.20 and $0.40 and surged to a high of $1.96 per XRP in late 2020. However, the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple Labs caused a considerable decline in XRP’s price, which has since remained relatively low.
About PayPal
PayPal (NASDAQ: PYPL) represents a digital payment platform that allows its users to transfer money online. The whole process is done quickly in a browser or a mobile app, making transactions much easier for both individuals and businesses, and you only need a linked bank account or access to a credit/debit card to start. PayPal supports over 25 currencies and can be downloaded and used for sending and receiving money online by people from almost every country in the world.
As mentioned earlier, PayPal displays an incentive to support crypto technologies and that’s a rare occurrence in the world of primarily fiat payment platforms. In the last few years, PayPal has made it clear that they believe digital currencies will become an integral component of future finances. This alone makes PayPal a desirable part of the process of buying crypto such as XRP.
PayPal crypto policy
As we said before, PayPal has expressed a positive attitude toward cryptocurrency. This support extended beyond just words when PayPal decided to include four crypto tokens into its platform. In fact, none of the policies and statements stated in terms of agreement restrict users from engaging in cryptocurrency trading or prevent investing in any particular token.
Remember
How to buy crypto safely
In the world of global finances, blockchain, cryptocurrencies, and other associated digital assets are a comparatively new addition, with many benefits and advantages over traditional stock exchange items and fiat currencies.
Despite bringing much good, the domain of cryptocurrency is still prone to some of the bad that comes with every ground-breaking invention in the global market. The limited amount of time in which huge advancements were made, together with the fact that crypto is a field of finance that just about anyone can enter, resulted in a somewhat unstable market.
Prices can wildly fluctuate, market trends can quickly reverse, and on top of all that, a significant number of scammers lie in ambush for experienced crypto traders and beginners alike.
Despite all that, there are measures you can take to preserve your safety and stay on the side of predictable outcomes as much as possible when trading in crypto. To remain out of harm’s way, adhere to the following advice:
- Get knowledgeable about the cryptocurrency you want to buy: Ensure that you are familiar with how crypto works and what the potential hazards of crypto trading are;
- Access the market via safe devices only: Steer clear of shared devices and Wi-Fi networks. If possible, use VPN as an extra layer of security. This helps establish a secure connection online, preserving your privacy and the integrity of your personal data;
- Opt for a reputable exchange: Check that the platform of your choice has a spotless history, transparent policies, and maintains tough security measures. Do research on the exchange to check whether it is in alignment with the approved regulatory bodies in your place of residence. Find out what measures it takes in the case of breach or bankruptcy. Feel free to look for user reviews and discover other users’ experiences with the service.
- Make sure to keep your account safe: Rely on two-factor authentication (2FA) and change your password if it’s weak to keep your account safe from unsolicited logins;
- Get a wallet: Having a crypto wallet is not obligatory, but it keeps your funds virtually impenetrable to outside hackers. Whether you go for a hot wallet, which is online, or a cold wallet, which requires physical access, you will have an extra layer of protection, just in case. See our guide on crypto wallets for more info;
- Speculate with what you can afford to lose only: Being highly unstable, the digital assets market has values prone to immediate and total changes. Investments into crypto are riskier than what traditional stocks have in store. Remain thrifty and careful with your investments, double so if you still have little experience. Never do this;
- Carefully watch your investments: Frequently check on the market circumstances for any changes in the value of the tokens you have invested in.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy XRP with PayPal:
How to buy XRP with PayPal?
Users can buy XRP with PayPal by connecting their fiat currency deposit with a regulated and trusted third-party cryptocurrency exchange platform.
Is buying XRP with PayPal safe?
You can never be too safe when trading in crypto. Buying XRP with PayPal is safe, provided that you closely follow the “how to buy crypto safely” steps explained in this guide.
Where can I buy XRP with PayPal?
Users can buy XRP with PayPal from any crypto exchange platform that supports PayPal. While these are many, make sure to stick to licensed, regulated, and trusted exchanges only.
